Page 15 - Real Estate Firms

Book profit in realty stocks as rally may hit valuation hurdle: Analysts

Investors holding the stocks could partially book profit; new investors should wait for correction to enter the pack

NAREDCO plans event to showcase real estate opportunities in Ayodhya

Real estate body NAREDCO on Friday said it plans to organise a builders' conference in Ayodhya to tap its commercial and residential opportunities as the holy city gears up to attract lakhs of tourists post inauguration of the Ram temple on January 22. National Real Estate Development Council (NAREDCO) National President G Hari Babu said there are opportunities to set up hotels, resorts and apartments in Ayodhya as the tourist flow would increase in the coming months. "The entire Indian real estate industry wants to look at Ayodhya ...We want to organise a conference in Ayodhya in the coming months in a big way and call a thousand builders there to showcase the commercial and residential opportunities," he told reporters. On expectations from Budget, Babu said NAREDCO has submitted a representation to the finance ministry seeking "Micro, Small and Medium Enterprises (MSME) status" for small builders and introduction of a scheme for those earning salaries up to Rs 40,000 per ...

Macrotech Developers reports 12% rise in sale bookings to Rs 3,410 cr in Q3

Realty firm Macrotech Developers on Friday reported 12 per cent increase in its sale bookings to Rs 3,410 crore for December quarter of this fiscal year on better demand for its residential properties. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,040 crore in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company has achieved its best ever third quarter pre-sales performance. MD & CEO Abhishek Lodha said, "It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer's desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen." On the back of steady rise in income levels and ample job creation, this desire is translating into robust demand for high quality homes, he added. Lodha said this fundamental driver of demand has enabled the company to deliver its best ever Q3 pre-sales performance at Rs 3,410 ...

Malls registered high demand this year, trend likely to continue in 2024

Most malls that opened in 2023 had commitments even before they became operational, and were occupied soon after their opening

PE inflow in real estate declines 44% to $3 bn so far in 2023: Knight Frank

Global investors have been cautious this year to put money into Indian real estate, as private equity inflow is down 44 per cent till December 12 to USD 3 billion compared to the entire previous year, according to Knight Frank. Real estate consultant Knight Frank India on Thursday released its data showing that the Indian real estate market received USD 3,024 million in PE investments from 23 deals between January 1 and December 12 this year, as against USD 5,357 million recorded in 2022. Global geopolitical uncertainties and a high interest rate environment with multiple rate hikes from the US Federal Reserve and the Central Bank of Canada have curbed investment activities from US and Canada, the consultant said, explaining the reason behind the slump. However, PE investments from Singapore have improved significantly, contributing more than 50 per cent to the total inflow. In terms of segments of the Indian real estate market, office assets took the lead with a 58 per cent share

India at 14th spot in housing cost rise in Jul-Sep with 5.9% growth: Report

India jumped 18 places to 14th rank in home price appreciation globally in September quarter, with nearly 6 per cent price rise year-on-year, according to Knight Frank India. Real estate consultant Knight Frank's Global House Price Index tracks nominal and real price growth across 56 countries in local currencies. Turkiye is at number one position with an annual 89.2 per cent appreciation, followed by Croatia (13.7 per cent), Greece 11.9 per cent, Colombia 11.2 per cent and North Macedonia 11 per cent. "Annual global house prices continue to rise despite central banks' efforts to combat inflation through higher interest rates. Average annual price growth stands at 3.5 per cent, closely approaching the pre-pandemic ten-year average of 3.7 per cent," Knight Frank said. Among the 56 markets monitored, 35 experienced annual price growth, while 21 witnessed price decline. "India climbed 18 spots to 14th rank in the global house price index in Q3 2023. The price increase of 5.9 per cent

Poonawalla HF gets a new name, rebrands as Grihum Housing Finance

The global private equity firm -- TPG acquired a 99.02 per cent equity stake in the company, taking over from Poonawalla Fincorp earlier this year

Godrej eyes Rs 3,000 cr revenue from new luxury housing project in Gurugram

Realty firm Godrej Properties will soon launch a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore as it seeks to encash a rise in demand for premium residential properties. The company will develop nearly 750 apartments in a 9.5-acre housing project 'Godrej Aristocrat' located at Sector 49 in Gurugram. The starting price is around Rs 4 crore per unit. According to real estate consultants, Godrej Properties has started seeking expressions of interest (EOI) from potential homebuyers and already received more than 1,200 EOIs. Market sources said the company is expecting to generate revenue of around Rs 3,000 crore from this project. Real estate consultant Anarock Vice Chairman Santhosh Kumar said the Gurugram housing market remains buoyant despite a sharp appreciation in prices. In March, DLF Ltd sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within three days. Proper

Realty sector's inventory surges to over Rs 1 trn, outpacing sales growth

This analysis is based on a common sample of 19 listed real estate companies that are part of the BSE500, BSE Midcap, and BSE Smallcap indices

'Indian real estate most preferred in Asia-Pacific for global investors'

Colliers data also shows institutional investment in real estate soared 27 per cent year-on-year in the first nine months of 2023

Bhutani Infra sells all retail units in Noida project in 12 hours of launch

Luxury realtor Bhutani Infra on Monday said all retail spaces in its new project Avenue 133 -- a mall in Noida Sector 133 -- were sold out within 12 hours of its launch. Industry sources said the sale of retail space in phase one of Avenue 133 has fetched over Rs 1,000 crore for the real estate developer, with price ranging from Rs 24,000 sq ft to Rs 40,000 sq ft. The second phase of the project is scheduled for sale next year and the group is eyeing revenue upwards of Rs 1,500 crore from it, a source close to the realty group told PTI. "Avenue 133 is one of the fastest selling assets. Our last record stood at three weeks. This time it has been less than 12 hours," Bhutani told PTI. However, he declined to share details about units sold or revenue earned. About the pace of sale, Bhutani said the speed is not surprising for Noida, which has become the point of focus in the industry now. "The plus point with this project is that it has filled a void for a good, major commercial pro

Ganga Realty plans over Rs 1,000 cr investment on Gurugram housing project

Real estate developer Ganga Realty on Monday said it will invest more than Rs 1,000 crore to develop a luxury housing project in Gurugram, Haryana. The company will build 302 apartments in this project 'Nandaka 84', which is spread over 8.33 acres, Ganga Realty said in a statement. The housing project will be completed by 2028. Vikas Garg, Joint Managing Director, Ganga Realty, said the investment of over Rs 1,000 crore will be funded through internal accruals. The prices of the apartments and penthouses start from Rs 4.05 crore onwards. In March this year, Ganga Realty had announced investments of Rs 750 crore to build an affordable housing project in Gurugram. The company is developing 2,972 apartments in its project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh. The demand for luxury homes have risen in Gurugram in the last two and half years. To tap this demand, many real estate developers are develo

3,294 acres acquired since Jan 2022 for residential projects: JLL report

Tier-II and -III cities accounted for 44.4% (1,461 acres) of the total land area transacted in the country

Puravankara bags two housing societies' redevelopment projects in Mumbai

Realty firm Puravankara Ltd has bagged two housing societies' redevelopment projects in Mumbai with a revenue potential of Rs 1,500 crore. In a statement, Bengaluru-based Puravankara Ltd said it has "secured the residential redevelopment rights for the two housing societies in the western suburbs of Mumbai". Situated in Andheri West, the project is spread over 3 acres. "It has a cumulative estimated development potential of 5.8 lakh square feet of carpet area, with approximately 3.65 lakh square feet available for sale and a potential Gross Development Value (GDV) of Rs 1,500 crore over the project's lifecycle," the statement said. Abhishek Kapoor, Group CEO of Puravankara Ltd, said this is a significant milestone as it marks our entry into the redevelopment segment. "This strategic move also underscores our commitment to expanding our footprint in Mumbai's thriving real estate market," Kapoor added. Puravankara Ltd has posted a consolidated net loss of Rs 11.22 crore in the Sept

Realtors gear up for firecracker Diwali, offers slew of attractive schemes

Flexi payment plans, iPads, and Amazon vouchers on offer for festival buyers

Anant Raj Q2 results: Net profit jumps 79% to Rs 60.37 cr on higher income

Realty firm Anant Raj Ltd has reported a 79 per cent increase in its consolidated net profit to Rs 60.37 crore for the second quarter of this fiscal on higher income. The Delhi-based realty firm had posted a net profit of Rs 33.74 crore in the year-ago period. Its total income rose to Rs 340.83 crore in the July-September period of 2023-24 from Rs 265.87 crore in the corresponding period of the previous year, the company said in a regulatory filing on Saturday. The company's total expenses grew to Rs 264.68 crore from Rs 223.84 crore. Anant Raj Ltd's share price closed at Rs 237.25 apiece Friday on the BSE, up 0.74 per cent from the previous close. Its market capitalization is nearly Rs 7,700 crore. Anant Raj Ltd is one of the leading real estate players in Delhi-NCR and adjoining cities. It is into the development of housing, commercial and data centre projects. Earlier this month, Anant Raj Ltd had said that the company would start an affordable housing project in Hyderabad and

Prestige Estates Projects aims 55% growth in bookings to hit Rs 20K cr mark

Prestige Estates Projects Ltd expects its sale bookings to rise 55 per cent this fiscal to touch an all-time high of Rs 20,000 crore driven by strong demand for residential properties. Its sale bookings stood at Rs 12,931 crore in 2022-23. Buoyed by the company's performance in the first two quarters of 2023-24, Prestige Group Chairman and Managing Director Irfan Razack said sale guidance has been revised for this fiscal year to over Rs 20,000 crore from Rs 16,000 crore earlier. "We have done pre-sales of around Rs 11,000 crore in the first two quarters. We had guided around Rs 16,000 crore (for the entire 2023-24). But having done Rs 11,000 crore of sales in the first six months, the team is very confident. Once all the approvals come and launches happen, we should cross Rs 20,000 crore," Razack said on the sidelines of CREDAI NATCON conference in Egypt recently. He sounded very bullish on demand of residential properties across all price brackets. "There is a huge demand for ...

CREDAI to help over 13,000 builders in adoption of proptech solutions

Realtors' apex body CREDAI will help over 13,000 builder members in adoption of technology solutions in real estate projects, enabling them to reduce construction time and improve quality of products. At its 21st NATCON realty conference in Sharm El Sheikh in Egypt, CREDAI announced a slew of initiatives to expedite adoption of digitisation and Artificial Intelligence (AI) among developers, especially from tier-II and III cities. It aims for full adoption of AI and modern construction methodologies in the realty sector by 2033. "Indian real estate is at the cusp of a technological revolution -- and CREDAI intends on leading this charge. We want to create impact at both macro and micro levels," CREDAI President Boman Irani said. "From integrating AI and modern technologies in construction, to financially backing and supporting start-ups... CREDAI will build a real estate industry for the future," Irani said. CREDAI's few state chapters will hold educational workshops to impart ...

Mumbai property registrations up 23% in Sep; reached 10,600 units: Report

Registration of properties in Mumbai municipal area rose 23 per cent year-on-year this month to around 10,600 units -- highest in 10 years -- on better housing demand, according to Knight Frank India. The registration of properties in Mumbai city (area under BMC jurisdiction) touched 10,594 units by 3.15 pm on Saturday. Data pertains to both primary and secondary property market. The registration process is slow on Saturday because of the start of 'shradh' period. The consultant expects the number to rise to around 10,650 units by the end of the day, out of which 82 per cent would be housing. As many as 8,628 units were registered during September last year. In the previous month, 10,902 units were registered. Registration of properties is expected to contribute Rs 1,127 crore to the state government's revenues. Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, " ... for the first nine months of 2023, we have observed a monthly average of 10,420 property ...

Country Garden wins creditors' support to extend repayment of 7 yuan bonds

The firm has left much smaller payments go right up until final deadlines recently, including a combined $22.5 million in interest it paid in the final hours of grace periods ending Sept 5-6